Sharing a few ideas for profit from Moneycontrol Pro, Nitin Agrawal of Moneycontrol.com spoke about a stock that he is tracking closely, Amara Raja.
The company is a key supplier of batteries to auto companies and industries. Promising original equipment manufacturers (OEM) demand outlook in passenger vehicle (PV) segment and two-wheeler segment is working in favour of the company. The demand is expected to bounce back sharply.
Replacement demand also continues to be very strong in the sector.
The company is ready for electric vehicles as well.
The stock is currently trading at around 14.8 times FY23 projected earnings which is reasonable for a company like this.
Watch the accompanying video for more details.
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(Edited by : Dipika)
First Published: IST